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Mba It Unit 4 Notes

Business requirements describe the characteristics of a proposed system from the end user's viewpoint, such as a concept of operations. Products, systems, software, and processes aim to satisfy business requirements. There are three main reasons business requirements are discussed in developing or procuring software or systems: 1) objectives or expected benefits are referred to as 'business requirements', 2) the term 'requirements' describes expected features of the product or system, and 3) a common model claims business requirements are high-level and vague, decomposing into detailed product or software requirements.

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77 views6 pages

Mba It Unit 4 Notes

Business requirements describe the characteristics of a proposed system from the end user's viewpoint, such as a concept of operations. Products, systems, software, and processes aim to satisfy business requirements. There are three main reasons business requirements are discussed in developing or procuring software or systems: 1) objectives or expected benefits are referred to as 'business requirements', 2) the term 'requirements' describes expected features of the product or system, and 3) a common model claims business requirements are high-level and vague, decomposing into detailed product or software requirements.

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astha shukla
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Business requirements

Business requirements, also known as stakeholder requirements specifications


(stars), describe the characteristics of a proposed system from the viewpoint of the
system's end user like a CONOPS. Products, systems, software, and processes are
ways of how to deliver, satisfy, or meet business requirements. Consequently, business
requirements are often discussed in the context of developing or procuring software or
other systems.

Three main reasons for such discussions:

1. A common practice is to refer to objectives, or expected benefits, as 'business


requirements.'
2. People commonly use the term 'requirements' to describe the features of the
product, system, software expected to be created.
3. A widely held model claims that these two types of requirements differ only in
their level of detail or abstraction — wherein 'business requirements' are high-
level, frequently vague, and decompose into the detailed product, system, or
software requirements.

Data Acquisition?
A Data Acquisition System, often abbreviated as DAQ, consists of sensors, me-
asuring instruments, and a computer. Its purpose is to gather and process
essential data for understanding electrical or physical phenomena. This system
plays a crucial role in tasks like monitoring heating coil temperature to evaluate
efficiency in achieving desired levels.
Data acquisition, also known as the process of collecting data, relies on
specialized software that quickly captures, processes, and stores information. It
enables scientists and engineers to perform in-depth analysis for scientific or
engineering purposes. Data acquisition systems are available in handheld and
remote versions to cater to different measurement requirements. Handheld
systems are suitable for direct interaction with subjects while remote systems
excel at distant measurements, providing versatility in data collection.

Importance of Data Acquisition Systems


Data acquisition systems hold significant importance across various fields and
industries for several reasons:
 Accurate Data Collection: The precise and consistent gathering of data
from various sensors and sources is facilitated, resulting in reduced potential
for human error and ensuring the integrity of the collected information.
 Real-Time Monitoring: Systems that acquire data provide real-time insights
into processes. This enables prompt responses to changing conditions, le-
ading to improved safety and enhanced operational efficiency.

Data acquisition systems are vital in quality control for manufacturing and
industrial settings. They monitor parameters and ensure that products meet the
required quality standards.
 Research and Development: They provide crucial data for experiments,
simulations, and the creation of new technologies and products, supporting
research endeavors effectively.
 Environmental Monitoring : The acquisition of data plays a crucial role in
environmental studies. It aids in evaluating pollution levels, climate
conditions, and the impact of human activities on ecosystems.

Data Preparation?
After data is cleaned and labeled, Data preparation is the process of
preparing raw data so that it is suitable for further processing and
analysis. Key steps include collecting, cleaning, and labeling raw data
into a form suitable for machine learning (ML) algorithms and then
exploring and visualizing the data. Data preparation can take up to
80% of the time spent on an ML project. Using specialized data
preparation tools is important to optimize this process.

How do you prepare your data?

Data preparation follows a series of steps that starts with


collecting the right data, followed by cleaning, labeling, and
then validation and visualization.

Collect data

Collecting data is the process of assembling all the data you need for
ML. Data collection can be tedious because data resides in many data
sources, including on laptops, in data warehouses, in the cloud, inside
applications, and on devices. Finding ways to connect to different data
sources can be challenging. Data volumes are also increasing
exponentially, so there is a lot of data to search through. Additionally,
data has vastly different formats and types depending on the source.
For example, video data and tabular data are not easy to use together.

Clean data

Cleaning data corrects errors and fills in missing data as a step


to ensure data quality. After you have clean data, you will need
to transform it into a consistent, readable format. This process
can include changing field formats like dates and currency,
modifying naming conventions, and correcting values and units
of measure so they are consistent.

Label data

Data labeling is the process of identifying raw data (images, text


files, videos, and so on) and adding one or more meaningful and
informative labels to provide context so an ML model can learn
from it. For example, labels might indicate if a photo contains a
bird or car, which words were mentioned in an audio recording,
or if an X-ray discovered an irregularity. Data labeling is required
for various use cases, including computer vision, natural
language processing, and speech recognition.

Validate and visualize

ML teams often explore the data to make sure it is correct and


ready for ML. Visualizations like histograms, scatter plots, box
and whisker plots, line plots, and bar charts are all useful tools to
confirm data is correct. Additionally, visualizations also help data
science teams complete exploratory data analysis. This process
uses visualizations to discover patterns, spot anomalies, test a
hypothesis, or check assumptions. Exploratory data analysis
does not require formal modeling; instead, data science teams
can use visualizations to decipher the data.

Hypothesis Testing in Data Science


Hypothesis testing is a formal statistical method for making decisions about populations
based on samples. This means making an assumption about something within a
dataset and then comparing two different assumptions based on the sample we have to
determine which one is more likely.

For example, you might say that the average employee in a company is 100 or that
boys are taller than girls. These are assumptions we make, and to confirm them, we
need a statistical method. Whatever we assume, we require a mathematical conclusion
to support it.

Need Hypothesis Testing?


Hypothesis testing is a fundamental concept in statistics and the scientific method. It
plays a crucial role in various fields, including science, business, healthcare, and more.
Here, we will explore why hypothesis testing is important in present-day business
sectors.

 Decision Making: Hypothesis testing is used by businesses to make data-driven


decisions and ensure their judgments are supported by statistical evidence. For
example, an ed-tech company uses hypothesis testing to determine whether
changing the color of an ‘enroll now’ button will increase conversion rates.
 Quality Control: Manufacturing industries rely on hypothesis testing to maintain
their quality standards. For example, a factory performs hypothesis testing to
make sure products meet specific criteria before being shipped to customers.

Data Interpretation?
Data interpretation is the process of assigning meaning to the processed and analyzed
data. It enables us to make informed and meaningful conclusions, implications, infer the
significance between the relationships of variables and explain the patterns in the data.

Explaining numerical data points and categorical data points would require different
methods; hence, the different nature of data demands different data interpretation
techniques.
There are two primary techniques available to understand and interpret the data:
1. Quantitative, and
2. Qualitative

Importance of Data Analysis and Interpretation


Data analysis aims to bring order and structure to data by manipulating, summarizing,
and reducing it to an interpretable form. It helps to uncover the patterns in the data.
Data interpretation aims to execute and apply processes that assign meaning to these
discovered patterns by analyzing data. It draws statistical conclusions, infers the
relationships and implications.

For instance, the business objective of the retailer is to recommend products to


customers based on the past data it has collected. We start understanding the
characteristics of the current and former customers. This is data analysis as it only states
how the data is. Once we start examining and postulating the customers based on their
similar characteristics that are data interpretation. This is where assumptions are made,
such as customers who buy X brand’s products also tend to buy products from another
similar brand. Here, we are thinking beyond the data and seeing the underlying
reasoning behind the data about the real implications.

Data Science in Operations Optimization


Data Science in Operations Optimization refers to applying advanced analytics,
statistical methods, and machine learning techniques to extract valuable
insights and knowledge from data within the domain of operations. Operations
Management involves designing, implementing, and controlling business
processes to produce and deliver goods and services efficiently.

operations data is analyzed to identify patterns, trends, and correlations that


can inform decision-making and improve overall operational efficiency. This
interdisciplinary approach combines expertise in data analysis, domain-specific
knowledge, and technology to enhance various facets of operations, such as
supply chain management, production planning, quality control, and logistics.

Significance of Performance Optimization in Operations


Cost Efficiency: Through the analysis of operational data, organizations can
pinpoint areas where costs can be reduced without compromising the quality of
products or services. Data insights help in identifying unnecessary expenditures
and optimizing resource allocation.

Resource Utilization: Data Science enables organizations to analyze how


resources such as manpower, machinery, and raw materials are utilized. This
optimization ensures that resources are allocated efficiently to meet production
demands, preventing underutilization or overuse.

Forecasting and Planning: By leveraging data analytics, organizations can


develop accurate forecasts, enabling them to plan for production, inventory, and
distribution more effectively. This proactive planning helps in adapting to
changes in demand and streamlining the supply chain.

Quality Improvement: Data analysis aids in identifying areas in the


production process where improvements can be made to enhance the quality of
goods or services. Continuous monitoring of data allows for real-time
adjustments, ensuring consistent quality standards.

Risk Management: Data Science plays a crucial role in assessing and


mitigating risks within operations. By identifying potential issues in advance,
organizations can implement preventive measures, reducing the likelihood of
disruptions.

Competitive Advantage: Organizations that embrace Data Science for


performance optimization gain a competitive edge. The ability to respond
quickly to market changes and customer preferences provides a strategic
advantage in a competition

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